## [# JETS, IAI Soar on Earnings; SHOC Dips on ASML Outlook](/sections/news/jets-iai-soar-earnings-shoc-dips-asml-outlook)
# JETS, IAI Soar on Earnings; SHOC Dips on ASML Outlook
- • News
2 Updates
[  ](/authors/dj-shaw)
Wed, October 16, 2024 At 4:05 PM EDT
[DJ Shaw ](/authors/dj-shaw) | Finance Reporter | [ Follow Author ](/etf/login)
## United Airlines, Morgan Stanley beat expectations; semiconductor ETF falters.
ETFs were mixed Wednesday as traders shifted through the latest corporate earnings reports, with gains in transportation and financial sectors offset by losses in semiconductors.
The [**U.S. Global Jets ETF (JETS)**](/jets) rose 4.2% after United Airlines shares surged nearly 12.5%. The airline posted strong earnings and revenue for the third quarter. United also announced the start of a $1.5 billion share buyback program, its first since the Covid-19 pandemic.
[](/jets)The [**iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI)**](/iai) gained 1.6% as Morgan Stanley shares closed up nearly 6.6%. The bank reported second quarter results that beat Wall Streets's forecasts, boosted by higher profits from its wealth management, trading and investment banking divisions.
In the transportation sector, the [**First Trust Nasdaq Transportation ETF (FTXR)**](/ftxr) climbed 2.1% after General Motors shares increased more than 2.4%. The automakers stock rose on news of an agreement with Lithium Americas Corp. to establish a joint venture, which includes GM investing $625 million in cash and credit to the Canadian mining business.
In contrast, the [**Strive U.S. Semiconductor ETF (SHOC)**](/shoc) fell 0.3% following ASML's earnings release. Shares of the semiconductor equipment maker slumped 6.4% after the Dutch company mistakenly released its third-quarter earnings earlier than expected. ASML also cut its sales outlook for 2025, citing a slower-than-expected recovery in segments beyond AI.
[  ](/contributors/ron-day)
Thu, October 17, 2024 At 11:45 AM EDT
[Ron Day ](/contributors/ron-day) | Contributing Editor | [ Follow Author ](/etf/login)
## XLF, KRE surge as big banks report solid earnings; Russell 2000 ETF jump
Bank ETFs are rising as Wall Street heavy-hitters report strong quarterly earnings, while broader markets are mixed after chipmaker ASML reported results that missed analysts' expectations.
The [**Financial Select Sector SPDR Fund (XLF)**](/xlf "/xlf"), which holds banks including JPMorgan Chase & Co. and Bank of America Corp., rose 0.7% late morning. The [**SPDR S&P Regional Banking ETF (KRE)**](/kre "/kre"), which holds smaller banks like M&T Bank Corp., jumped 1.6%.
Bank exchange-traded funds have been rising as banks beat earnings expectations while signaling that their health is a sign that the Federal Reserve is successfully taming inflation without sparking a recession. Morgan Stanley this morning joined other big banks in reporting third-quarter profit that topped Wall Street estimates.
Optimism for a stronger economy with lower interest rates may lie behind this morning's 1.6% gain in the [**iShares Russell 2000 ETF (IWM)**](/iwm "/iwm").
Broad equity indexes turned higher. The [**SPDR S&P 500 ETF Trust (SPY)**](/spy "/spy") moved into the green, adding 0.1% while the [**SPDR Dow Jones Industrial Average ETF Trust (DIA)**](/dia "/dia") gained 0.4%. The [**Fidelity NASDAQ Composite Index ETF (ONEQ)**](/oneq "/oneq") which tracks the tech-heavy Nasdaq, fell 0.1% as Dutch chipmaker ASML disappointed investors with its results.
Big bond ETFs gained. The [**iShares 20+ Year Treasury Bond ETF (TLT)**](/tlt "/tlt") added 0.7% and the [**Vanguard Total Bond Market ETF (BND)**](/bnd "/bnd") rose 0.2%.
[](/tools/etf-comparison/KRE-vs-XLF)
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